| Author | Message | ||
| Daniel B Reese MD (Dbr328gtb)
Junior Member Username: Dbr328gtb Post Number: 121 Registered: 5-2001 |
I would say if you keep the car in good condition it will not depreciate. I could easily get my money back on mine. Also dont even think of paying a premium for a low mileage example. Mine has 47000 miles and has no issues and F of Wash says it is one of the best driving 328s they have seen. I would not do an even trade on my car for a 5000 mile example On the track you will probably notice the B is stiffer. I have tracked it and it is well balanced. Very forgiving. There was one corner I over cooked it a bit but no problem recovering it. The instructor said if I was in a 348 I'd be in the weeds. | ||
| Dave (Maranelloman)
Member Username: Maranelloman Post Number: 553 Registered: 1-2002 |
BTW, that's me in the silver M3 about to pass the white Miata, on my way to hovering one car length behind Rob, in order to hear that lovely sound all through his rev range. I coulda taken him, but I had a heart for our gracious host...   | ||
| Dave328GTB (Hardtop)
Member Username: Hardtop Post Number: 288 Registered: 1-2002 |
Rob, Great photo! It says a lot about the 328 chasis to have the car look like it is so far out of shape, yet it's going where you are pointing it! JScott, That's such a great deal, I'm green with envy! Michael, The good news is that there are a lot of clean, reliable 328's out there to choose from. If you are not dedictated to open air driving, I would suggest trying to find a GTB. They drive and look way better, but, hey, I am prejudiced! Carl, Congrats. I keep hearing how you can buy real nice 328's cheap, but I never see them. Dave | ||
| Carl Rose (Carl_rose)
New member Username: Carl_rose Post Number: 16 Registered: 10-2002 |
Thanks guys! Car is getting it's 30k service now & if nothing untoward arises, *may* actually be here by end of the month. Mr. Claudio if you're looking for a 328 to track, you may want to consider a late 1988/1989 model as the front suspension geometry was changed to incorporate an "anti-dive" aspect (convex wheels)& 1989 have ABS brakes. May also want GTB over GTS? Mileage and condition probably aren't as much of a concern consequently you should be able to find a good car (GTS) for $45-8k or so; GTBs are rare & may run a bit more. I would advise a recent documented service ($5-7k if not already done) should you intend to drive the car hard. Buy the car because you love it - totalling maintenance/parts/insurance/general care & feeding highly doubtful this qualifies as an "investment". I tried very hard to learn as much as possible about the market & the cars before purchasing. Reccomend also www.hemmings.com, the FNA website, Ferrari club of America, www.expensivecar.com, ferrari308.com. Any chapter in your area would be a good resource. This forum is superb reference. Carl | ||
| Todd Gieger (Todd328gts)
Junior Member Username: Todd328gts Post Number: 234 Registered: 6-2002 |
Congrats Carl! I can't wait to hear the details and see a picture. | ||
| BobD (Bobd)
Member Username: Bobd Post Number: 757 Registered: 3-2001 |
Carl, interesting stats. Thx for taking the time to post! | ||
| Michael Claudio (Mclaudio)
New member Username: Mclaudio Post Number: 3 Registered: 11-2002 |
Wow! I surely did not expect such a collection of responses. Thank you, Everybody! I subscribe to both SCM and FML, so I get data points from them as well. Given that I am in the market for a well-maintained driver and not a garage queen, I don't expect it to be a sound financial investment, but maintaining its value would be nice. I'm very encouraged about the 328's track abilities. This may be suffice until I can afford a dedicated and properly-prepared F- race car. | ||
| Carl Rose (Carl_rose)
New member Username: Carl_rose Post Number: 15 Registered: 10-2002 |
What an appropos posting! (I bought a 1988 car yesterday) If you are seriously interested in finding a lower-mileage car (<15k) give me a ring - think V and I have looked at most of the cars currently for sale in this country! Also have lots of information on the 328 series in general I found useful in my seach: (601) 352-1455. I'm on call this weekend, if I'm not home keep trying. Regarding low-mileage 328 prices here's what I've found recently: 1989 GTB 320miles $75k (red) 1989 GTS 100mi $85k (black) 1989 GTS 782mi $82 (yellow) 1989 GTS 7550mi $65 (white) 1988 GTS 15,000mi $53 (red) all of these are "asking" prices. Selling prices I personlly know of: 1989 GTS 7500mi $64 (red) 1989 GTS 7500mi $60 (red) 1988 GTS 735mi $68 (red) 1988 GTS 9900mi $60 (red) 1988 GTS 9000mi $62 (red) 1988 GTS 12,000mi $62 (red) Some of these are with/without 30k belt-change service. I found that although it's sortof a "buyer's market" currently, fewer low-mileage examples are available consequently this doesn't apply. Everyone on this board was wonderful when I was looking. Let me know if I can help. Carl | ||
| j scott leonard (Jscott)
Junior Member Username: Jscott Post Number: 207 Registered: 1-2002 |
Jim: Sometimes it is better to be lucky than smart. I was in the right place at the right time with the money. Just had a major service done and my mechanic said that the car was one of the best running ones he has seen, including his own. | ||
| Rob Lay (Rob328gts)
Board Administrator Username: Rob328gts Post Number: 2753 Registered: 12-2000 |
 It's so much fun to drive on the track, but not all that quick stock. You can tell in the pic above how much body roll there is. Granted, that's a downhill off camber tight turn, but even front to back lean is severe. The car has a great balance and feel. I think it would be deadly on the track with stiffer springs and soft wider rubber. I would never add stiffer springs as this is my weekly driver. It's plenty stiff for the road. My 108 rwHP Rx7 laps MSR about 5 seconds a lap faster. But that's a race car with race shocks, springs, sway bars, weight removed, and DOT slicks. Value wise I think 328's have leveled out at best, I think down $2-3k is more accurate over last year. I bought mine at the peak in 09/2000. I think the range in 5 years will be $32-58k. The older they get, the more range in conditions. Also, the more premium paid for the really nice ones. I think GTB's will hold value better as they're better looking and rarer. Although I think the 328 is one of the best all around Ferraris. It suffers a little bit as owners come and go really fast. It's sometimes a stepping stone and it's sometimes a "I owned a Ferrari once". | ||
| Dave328GTB (Hardtop)
Member Username: Hardtop Post Number: 285 Registered: 1-2002 |
When I bought my first 328 (an 87 GTS red/tan w/30K miles) for 40K in 97, that was the bottom of the market. I sold it 18 months later with 42K on it for 42K and it took 36 hours to sell it! Low mileage 89's sold for upper 50's, then got to upper 60's in 99-00. I think they have slipped back a little since then, but not much. Local dealer just sold an 89 GTS red/tan with 7K miles and service done. They asked 65K and it sold very fast. My own 89 GTB with 6K on it sold for 67K in early 2000 w/o service. I bought it a year ago with 7K on it with service for 62K, from the same dealer that sold it for 67. They are clearly down from the peak (as are all Ferraris) Example: 15 months ago I sold my 94 348 TB challenge with 16K on it and needing service for 68K. Right now there is a twin with 8K on it for sale at 62K. I think if you bought a very low mileage car and didn't drive it much, it might appreciate some. If you drive it, it depreciates just like any other modern car. I can't figure where the FML asking prices for 328 GTB's come from. I have records of about half the 89's in the US and only one has been offered at less than 50K (49.9K to be exact)in the last 6 years. Likewise, only a couple of pre 89's have been offered at less than 40K and they had quite high mileage. I have driven my 328 on the track a couple of times so far. I have an 99 M3 that can out accelerate, brake and handle the Ferrari, but I enjoy the Ferrari much more. I find the car is very well balanced. Sometimes I can get the rear to wiggle a little on low speed turns, but it's always easily controlled. I just put on 17 inch wheels and went to 225 & 245 tread widths which seem to have really improved the grip. The 348 I had was more powerful and much better brakes. It may have handled better in an absolute sense, but there was a lot more drama driving it on the track. Nothing but joy in 328's. The looks alone are worth the price of admission. Dave | ||
| BobD (Bobd)
Member Username: Bobd Post Number: 749 Registered: 3-2001 |
I've had my 328 for nearly 4 years. I believe I paid a very fair price... I also believe I could sell it today for what I originally paid, possibly even a few $$$ more. So I've had four years of incredible fun, legendary 328 reliability and it's worth what I paid for it. How does it get any better than that? | ||
| Jim Schad (Jim_schad)
Member Username: Jim_schad Post Number: 455 Registered: 7-2002 |
Scott: $38,300! Did you find some guy who was desperate for $$ or just didn't care about the price? Especially for an '89 even though it is white. Can't find em for less that $40K now unless you look VERY hard. | ||
| j scott leonard (Jscott)
Junior Member Username: Jscott Post Number: 206 Registered: 1-2002 |
Frank: Isn't it interesting how the two publications differ? Who knows which one is right? I think "Sports Car Market" mostly uses auctions as the basis of value. For my money, the price of the 328 is very fair and the fun is worth much more. Since I don't intend to sell my car, it really doesn't matter much. Good discussion though. BTW, I paid $38,300 for my 89 GTS with 32K miles last December. I felt like I did pretty well. The car is in great condition. Wouldn't sell if for less than $45K even if it was for sale. | ||
| Frank Parker (Parkerfe)
Intermediate Member Username: Parkerfe Post Number: 1518 Registered: 9-2001 |
Scott, according to the 11-2-02 issue of the Ferarri Market Letter the "asking price" of the 328GTS is down a total of over 8% over the last two years with the 328GTB down over 18% for that time frame. Yo would assume that the selling price would be down a similar amount. | ||
| jeff ryerson (Atheyg)
Junior Member Username: Atheyg Post Number: 85 Registered: 8-2002 |
I've been looking at 328s for years and and would say they have appreciated a but since about 5 years ago, when asking prices for some cars were in the high 30s,and if you really looked you could find some in the mid 30s, now they are 6-10k above that for similar condition cars | ||
| j scott leonard (Jscott)
Junior Member Username: Jscott Post Number: 205 Registered: 1-2002 |
"Sports Car Market" Magazine recently rated the 328 as a car that will keep pace with the overall market apprciation for collectable cars. They cited the prior year appreciation as 9%. The September issue had a headline which read "Why the 328 is the best Ferrari ever built". You can get a copy of the current pricing guide from them. You can find them on the web at www.sportscarmarket.com. I don't know if the information is completly accurate, but it seems that the 328 is one of the most stable Ferrari investments you can make. The most appreciating models are the F-50, as well as the older low production classics. I have never put my car on the track but it is a real kick to drive. I think that if you buy right you should be able to put 2-3K miles on per year and not deminish the value. I think that any car that you can have fun with, and sell for what you paid, is a great value. I don't think that depreciation is really an issue if you take care of the car. Many will disagree with me but you won't go wrong with a well cared for 328! BTW, the 89 model year is the best in balance and braking. Some upgrades were included in the last year production. You should expect to pay in the $40's for a good car. A perfect 89 may cost you in the low $50's. Some feel that the value of a cherry 89 is nearer $60K but I think that is a little out of range. Good luck and enjoy! | ||
| Craig Dewey (Craigfl)
Member Username: Craigfl Post Number: 487 Registered: 1-2001 |
I think the only appreciation you can expect is your own. I've grown to like mine more and more each day.... | ||
| Jim Schad (Jim_schad)
Member Username: Jim_schad Post Number: 453 Registered: 7-2002 |
Yes Rob does track his 328. I think his BMW actually turns in faster times, but which would you rather drive? As far as price, like Tom said don't buy for investment. 308's are selling between $22K and up to $40K with 328's hovering above that. I would expect 328's to not drop below the mid $30K's any time soon based simply on the fact that 308's won't drop much more adn since the 328 is newer/nicer etc they will hold for some time. I have seen 3 or 4 328's (86/87 models)sell for $40K to $42K in very good condition in the last 2 months. Also, in this economy there are some sellers who need to unload their cars so you can get good deals if you are patient adn can move fast when the time comes. | ||
| Frank Parker (Parkerfe)
Intermediate Member Username: Parkerfe Post Number: 1517 Registered: 9-2001 |
I think Toms correct. No production Ferrari is likely to appreciate again like the late 1980s. I would be surprised if the 328 series didn't depreciate more like 5-9% per year as indicated in the last issue of the Ferrari Market Letter. The cars should bottom out in the low $30k range in the next few years or so. That's still pretty good when you consider what kind of depreciation other makes suffer. | ||
| TomD (Tifosi)
Intermediate Member Username: Tifosi Post Number: 1797 Registered: 9-2001 |
I think rob takes his on the track, don't expect appreciation on a 328 and assume 2-5% depreciation a year and you will be happy | ||
| Michael Claudio (Mclaudio)
New member Username: Mclaudio Post Number: 2 Registered: 11-2002 |
I'm new to the site, although I have followed a lot of the threads recently. Very informative site, I should say. I have been historically more of a Ferrari race car enthusiast than a street production F-car fan. However, I am considering buying a 328 (actually made an offer on one yesterday). I have been saving for a F-race car, but this delayed gratification is killing me. I realize it's hard to predict the future, but how do you folks perceive the 328 market in the next year, two years and five years? Also, not that I necessarily plan to take a street car to the track, but has anybody here driven their 328 at the track? If so, how did the car feel in terms of balance and braking? |